Let our Fintech Expertise deal with your Mainland Account Opening

We offer assistance to our clients in Mainland Account Openings. Feel relaxed as our team of experts will help you in completing the required paperwork and following the appropriate procedures.

Benefits of Mainland Account

Competitive Interest Rates Hassle-free Fund Transfers Loan Facilities/ Credit Facilities, etc.

Financial institutions, including banks, find the current economic stability in the UAE highly satisfactory. Many business owners are interested in opening bank accounts for their mainland companies. At Fin Street Banking Consultancy, we provide expert assistance and guidance throughout the entire process of opening a company bank account in Dubai for mainland companies. We work with top banks, both local and foreign, that require only a few essential documents to facilitate the bank account opening in Dubai.

Smooth financial transactions are crucial for business growth across all industries. When applicants meet the necessary requirements established by the banks, the bank accounts offer highly customer-friendly and hassle-free services to companies in Dubai.

Opening a company bank account can be a straightforward procedure when you have the proper documentation and adhere to Dubai Bank’s KYC (Know Your Customer) regulations.

During the process of establishing a bank account for a mainland company, Dubai Bank’s bankers ask questions and request relevant documents. It is vital for applicants to provide accurate information in response to these inquiries. Prior to initiating the bank account creation process for your mainland company in Dubai, Fin Street Financing will assist you in fulfilling the KYC (Know Your Customer) requirement, ensuring a simplified application procedure for applicants.

What is Mainland Business Account in UAE?

Mainland Account is a type of business bank account in UAE that helps the owners of the business to track their expenses and manage their funds. This type of account is different from personal bank accounts as it is for businesses in the UAE.

Business accounts in the UAE are used for tracing the money owed to the business as well as creditors, cash balance, and payroll given to the employees. There are 3 types of Business Setup in UAE, and each of them is required to open a different type of corporate bank account. Apart from Mainland Bank, We provide assistance for Freezone Company Bank Account opening & Offshore Business Account. Here we are going to discuss the procedure to open Mainland Account in UAE.

Mainland Accounts are open for companies incorporated that derive its license from the Department of Economic Development (DED). It opens up business opportunities in the local markets of the UAE to perform business activities in the regional market without any limitations.

Documents required for corporate bank account opening in Dubai Following list of documents are required for opening Corporate Bank Account for UAE Mainland-

Basic Documents

Trade License Memorandum Of Association (All) Passport, Visa & Emirates Id of all partners (if applicable) Office tenancy or Ejari contract (Physical office)

Supporting Documents

6 months bank statement (Personal/company from UAE/Home country.) Utility Bills as address proof (for certain nationalities) VAT Certificate (if applicable) Business model/company profile/ Website Customer Profile (CV) of signatory Name of existing or prospective clients (suppliers/buyers) Debit & Credit Invoices

All basic documents are mandatory. Supporting documents are as per business profile.

Advantages of opening Mainland account in UAE

Advantages of having Mainland Account are as follows-

Debit and Credit Card Facility

Most of the banks in the UAE, offer free debit/credit card facility with the mainland bank account. The account holder can use these cards for retrieving their funds. Besides, they can also make withdrawals, but within the specified limit set by the concerned bank.

Cheque Book Facility

A lot of banks in the UAE offer the facility of cheque book to the account holder for creating easy transactions.

Flexible Funds Transfer

The account holder can easily transfer their funds using these bank accounts. The concerned bank provides net banking or mobile banking services.

Loan or Credit Facility

The account holder has the facility to access various types of loans provided by the concerned bank.

Competitive interest or profit rate

The banks in the UAE offer competitive rates of interest or profit rates on the amount deposited with the concerned bank. This interest rate is a type of earning for the account holder and can act as a savings for the business.

24/7 Customer Service

The banks or financial institutions in the UAE offer 24/7 customer service to the account holders. They effectively and efficiently resolve the issues as well as queries.

Eligibility Requirements for corporate bank account opening in Dubai

Wondering how to open bank account in UAE! Check out the Eligibility Criteria for best business bank account in UAE

You should have a valid passport with the UAE entry page. Applicant’s personal profile – CV Latest Utility bill Required an original reference letter of an applicant from the company or personal bank account, either in the country or anywhere in the globe. Latest six months bank statement Information on the incoming funds’ source Most of the banks in the UAE require a minimum monthly average balance for opening a bank account in Dubai. The needs differ from bank to bank. Why company bank account opening in UAE preferable by the Banks? Bank easily opens Mainland Account because of the following reasons-

Mainland Companies have Proper Offices and it is easy for bank to have physical verification for the same. Account Maintenance & VAT filing Mainly given to the local businesses One can easily trace buyers as well as suppliers